Morgan Stanley reported a 10% fall in quarterly profit on Thursday as low market volatility crimped trading and advisory revenue.
The bank said earnings attributable to Morgan Stanley fell to $2.20 billion, or $1.23 per share, in the second quarter ended June 30, from $2.44 billion, or $1.30 per share, a year ago.
Analysts were looking for a profit of $1.14 per share, according to IBES data from Refinitiv, although it was not clear if the numbers were comparable.
(Reporting by Noor Zainab Hussain in Bengaluru Editing by Saumyadeb Chakrabarty) ((noor.hussain@thomsonreuters.com; Within UK +44 20 7542 1810; Outside UK +91 80 6749 2764; Reuters Messaging: noor.hussain.thomsonreuters.com@reuters.net))
